---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-054647"
form_type: "8-K"
ticker: "VERI"
cik: "0001615165"
company_name: "Veritone, Inc."
filed_at: "2024-05-07T23:59:59+00:00"
generated_at: "2026-06-02T18:40:03.399611+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Veritone Q1 revenue $31.6M beats guidance; ARR drops 36% YoY to $72.1M

## Summary
- Q1 total revenue $31.6M (+4.5% YoY), above high end of guidance; net loss $25.2M vs $23.0M YoY.
- Software Products & Services ARR $72.1M, down 36% YoY driven by consumption revenue decline from largest customer.
- Subscription-based ARR up 7% YoY; total customers 3,384 (-10% YoY); new bookings $13.0M (-43% YoY).
- Q1 restructuring delivers $13M+ annualized savings; targeting non-GAAP net income as early as Q4 2024.
- Non-GAAP net loss $7.6M, improving 20.3% YoY; non-GAAP gross profit $24.6M up $1.1M.

## SEC filing metadata
- accession: 0000950170-24-054647
- form_type: 8-K
- ticker: VERI
- cik: 0001615165
- company_name: Veritone, Inc.
- filed_at: 2024-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1615165/000095017024054647/0000950170-24-054647-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1615165/000095017024054647/veri-20240507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-054647
- JSON: https://secwatch.observer/filing/0000950170-24-054647.json
- Plain text: https://secwatch.observer/filing/0000950170-24-054647.txt

## Key facts
- Earnings Releases
  Veritone, Inc. reported the first quarter ended March 31, 2024 results: revenue $31.6 million, net income $25.2 million.
  - Period: the first quarter ended March 31, 2024
  - Revenue: $31.6 million
  - Net income: $25.2 million
  - Result: reported results
  source text: events for any reason, except as required by law. --- EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 Veritone Reports First Quarter 2024 Results - Q1 Total Revenue of $31.6 Million, Outperforming the High End of Guidance - - Total ARR (SaaS and Consumption) of $72.1 Million from 3,384 Total Software Products & Services Customers, Including ARR (SaaS) of
  evidence_url: https://www.sec.gov/Archives/edgar/data/1615165/000095017024054647/0000950170-24-054647-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.